Atlantic Broadband Acquires Aiken, Sc, Cable Tv System From G Force

By Author: Alan Black
Total Articles: 13
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Plans $7 million network technology investment to complete digital upgrade
for enhanced video, high-speed Internet, phone service

QUINCY, MA, Nov. 2, 2006 - Atlantic Broadband announced today that it has acquired the G Force cable TV system based in Aiken, South Carolina, with 21,000 subscribers. The purchase price was approximately $62 million.

Atlantic Broadband, a privately held provider of digital video, high-speed Internet and phone service, now has 286,000 subscribers in seven eastern U.S. states.

"These South Caroline communities are seeing tremendous growth, which make them a perfect fit with our acquisition and upgrade strategy,” said David Keefe, Atlantic Broadband CEO. “We’re planning to invest $7 million in network infrastructure to complete the system’s digital upgrade, expand video channel capacity, increase the availability and speed of broadband Internet service, and eventually launch phone service."

The G Force system serves the city of Aiken and Aiken County, the city of Barnwell and Barnwell County, the city of Bamberg and Bamberg County, the town of Allendale and ...
... Allendale County, Blackville, Burnettown, Denmark, Elko, Fairfax, Jackson, New Ellenton, Snelling and Williston. Atlantic Broadband plans to continue operating the system under the G Force name during a transition period.

Sam McGill, currently Marketing/Sales Manager for Atlantic Broadband’s Maryland and Delaware systems on the Delmarva peninsula, has been named General Manager of the Aiken system.

“All of us at Atlantic Broadband are looking forward to the opportunity to serve G Force customers in South Carolina,” McGill said. “We are committed to making the investment in technology and people that will bring them the most advanced services, competitive prices and quality customer care available in the region.”

McGill was born and raised about 70 miles from the Aiken system, in Washington, GA. A graduate of the University of Georgia, he began his career at Benchmark Cable/Adelphia Cablesystems in its Southeast Region. He came to Atlantic Broadband in 2005 from Mediacom Communications, where he served as a sales/marketing manager for its Midwest division.

The Aiken acquisition closed on Wednesday (Nov. 1) and was financed through an increase in borrowings under Atlantic Broadband’s current debt agreement and the issuance of a note payable to the seller of the assets.. DH Capital, LLC (www.dhcapital.com), an investment banking firm serving the media and communications industries, acted as exclusive financial advisor to G Force in the transaction.

Atlantic Broadband is ranked as a top 20 cable operator in the United States. The company was founded in 2003 by former American Cablesystems and Continental Cablevision executives David Keefe, who also has built and managed broadband and cable systems in Brazil, eastern Europe and Hong Kong; and Edward T. Holleran Jr. (Atlantic Broadband President and COO), who also co-founded and led start-up American Broadband

The company began operations in 2004 with the $765 million acquisition of Charter Communications systems central/western Pennsylvania, western New York state, West Virginia, Maryland, Delaware and southern Florida. Private equity partners are ABRY Partners, LLC, and Oak Hill Corporate Partners, LP.

Headquartered in Quincy, Massachusetts, Atlantic Broadband has over 500 employees and 250,000 customers located in three operating regions: central Pennsylvania, Miami Beach, and Maryland/Delaware. Additional information is available at deals for you at the site www.atlanticbb.com. There you can also check out the cable and internet bundle and digital cable TV deals on offer.

About Author :

Alan has been in the telecommunications industry for over 9 years. His special interest is the convergence of TV, internet & phone in the digital era. You can know more about digital cable TV and cable and internet bundle deals for you at the site www.atlanticbb.com.